News 
Coin Information 
About us 
Customer Service 
Upbit, South Korea’s largest cryptocurrency exchange, has unveiled the testnet of its Ethereum (ETH) layer-2 solution “Giwa,” built using Optimism’s OP Stack technology. Announced at the Upbit Developer Conference (UDC 2025) on June 10, the move signals Upbit’s transition from a trading platform to a Web3 infrastructure provider.
Giwa, which stands for “Global Infrastructure for Web3 Access,” inherits Ethereum’s security while delivering faster block generation of just one second, enhancing scalability and stability. The testnet, named “Giwa Sepolia,” supports Ethereum Virtual Machine (EVM)-compatible contracts and includes a block explorer for real-time tracking, laying the groundwork for a developer-friendly environment.
Upbit’s strategy mirrors global trends, with major exchanges and tech companies advancing blockchain ecosystems. Coinbase launched its Base network in 2023, while Binance introduced BNB Chain in 2019, both enabling decentralized application (DApp) development. Beyond crypto, Google, Stripe, and Sony have also announced blockchain initiatives in 2025, highlighting accelerating adoption across industries.
While Upbit has not disclosed the Giwa mainnet launch date, industry watchers see the testnet as a pivotal step in the company’s broader Web3 vision. By building its own blockchain infrastructure, Upbit is positioning itself as more than just an exchange, aiming to provide the foundation for developers, businesses, and users to access decentralized applications seamlessly.
The Giwa project underscores a growing shift in the crypto industry where exchanges are evolving into ecosystem leaders rather than just service providers. With strong competition from global players and increasing corporate interest in blockchain, Upbit’s expansion into Ethereum layer-2 technology marks a strategic push to secure its role in shaping the next generation of Web3 infrastructure.
Comment 0